Sensor Data Analytics, a statistical tool developed to collect and analyze the real-time data generated by a wired or wireless sensor. The primary goal of sensor data analytics is to detect irregularities and these real-time data can later be used for various applications such as to detect failure in a machine in manufacturing unit or to get the data collected by drones to safeguard the businesses from various aerial threats posed by other malicious drones, to improve energy management to reduce carbon footprint of a facility or to cut queues and flight delays at the airports and so on.
As technology is growing, the big data have increased substantially, promoting the demand for data analysis for competitive advantage. Growing number of businesses have shaped up an upsurge demand to track activities on the company websites and other associated websites. Similarly, the emergence of social media sites and the increasing importance of sentiment analysis and advances in text analysis has prompted organizations to integrate social media into their business process.
This has resulted in a huge amount of data stored by an enterprise, prompting the immediate need for data analytics. Therefore, the data analysis becomes vital for the competitive advantage which in turn, increases the uptake of sensor data analytics. It is needless to say that the sensor data analytics market enjoys enormous traction, witnessing augmenting demand across the industries.
Acknowledging the exponential growth, the market perceives currently; Market Research Future (MRFR) in its recently published study report asserts that the global sensor data analytics market is estimated to witness an outstanding growth by 2022, in terms of value, registering a stunning CAGR throughout the forecast period (2016–2022).
Augmenting demand to counter the big data challenges that are increasing with the advancements of technologies are some of the key forces acting as a tailwind to the market growth, boosting the demand for sensor data analytics. Additional factors substantiating the market growth include cost reductions from cloud deployment models, benefits of sensor data analytics, and the increasing need to address vertical specific challenges.
On the other hand, technical misspecifications of sensor data analytics are expected to pose challenges to the market growth. Nonetheless, adoption by niche industries is likely to open new doors for the sensor data analytics, increasing its demand in the market.
Global Sensor Data Analytics Market — Competitive Analysis
Characterized by the presence of technology giants such as IBM Corporation, Cisco Systems, TCS, SAP AG, and Microsoft Corp., the global sensor data analytics market appears to be intensely competitive. Matured players incorporate acquisition, partnership, collaboration, expansion, and technology launch in order to gain a competitive advantage in this market. Small and medium-sized companies are coming up with updated solutions and services that can optimize the efficiency of businesses with lower cost as compared to established players.
Vendors are emphasizing on improving their market performance and are expanding by acquiring promising companies in the fast-growing markets. They employ a continuous improvement strategy to analyze and update the software, implementing improvements, launching new technologies that can meet the changing needs of the consumer.
Market players strive to develop well-established infrastructure that allows seamless implementation of advanced technologies. Substantial investments transpired in R&D sector from the major players, are is in turn, helping the market to grow.
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Sensor Data Analytics Market, By Components (Hardware, Software), By Services (Managed, Professional), By Applications (Manufacturing, Healthcare, Automotive, BFSI, Telecommunication) - Forecast 2016-2022Sensor Data Analytics MarketThe global Sensor Data Analytics market is growing with the rapid pace is mainly due increasing adoption of Big Data analytics, which is propelling the Sensor Data Analytics market growth to the large extent.
According to a recent study report published by the Market Research Future, The global market of sensor data analytics is booming and expected to gain prominence over the forecast period.
The increasing demand of visualize real-time sensor data, are propelling the sensor data analytics market growth in the forthcoming years.
The failure in machine in manufacturing which are hampering the growth of sensor data analytics market.Access Complete Report @ Sensor Data Analytics Market Research Report-Global Forecast 2022Sensor Data Analytics Market, By Components (Hardware, Software), By Services (Managed,…Read on marketresearchfuture.comIndustry NewsSeptember 27, 2017 - Cloudera, Inc., a platform for machine learning and analytics optimized for the cloud, has introduced Altus data engineering for Microsoft azure beta enabling new hybrid and multi-cloud data analytic workflows.
This will help the data engineers use on-demand cloud infrastructure.July 11, 2017 - SAP SE has launched its new internet of things solution.
This includes IoT solutions that can take an advantage of advances in Big Data and analytics.
Sensor Data Analytics Market, By Components (Hardware, Software), By Services (Managed, Professional), By Applications (Manufacturing, Healthcare, Automotive, BFSI, Telecommunication) - Forecast 2016-2022Sensor Data Analytics Global Market - OverviewThe global Sensor Data Analytics market is growing with the rapid pace is mainly due increasing adoption of Big Data analytics, which is propelling the Sensor Data Analytics market growth to the large extent.
According to a recent study report published by the Market Research Future, The global market of sensor data analytics is booming and expected to gain prominence over the forecast period.
The increasing demand of visualize real-time sensor data, are propelling the sensor data analytics market growth in the forthcoming years.
This will help the data engineers use on-demand cloud infrastructure.July 11, 2017 - SAP SE has launched its new internet of things solution.
This includes IoT solutions that can take an advantage of advances in Big Data and analytics.
These are enabled with technologies including machine learning, IoT and Industry 4.0 strategies across digital logistics, manufacturing and asset management.Apr 03, 2017 – Cisco system Inc. and SAS has come up with solution called Cisco SAS Edge-to-Enterprise IoT Analytics Platform.
The growth sectors of the Sensor Data Analytics Market are identified with precision for a better growth perspective.Sensor Data Analytics, a statistical tool developed to collect and analyze the real-time data generated by a wired or wireless sensor.
The primary goal of sensor data analytics is to detect irregularities and these real-time data can later be used for various applications such as to detect failure in a machine in manufacturing unit or to get the data collected by drones to safeguard the businesses from various aerial threats posed by other malicious drones, to improve energy management to reduce carbon footprint of a facility or to cut queues and flight delays at the airports and so on.
As technology is growing, the big data have increased substantially, promoting the demand for data analysis for competitive advantage.
This has resulted in a huge amount of data stored by an enterprise, prompting the immediate need for data analytics.
Acknowledging the exponential growth, the market perceives currently; Market Research Future (MRFR) in its recently published study report asserts that the global sensor data analytics market is estimated to witness an outstanding growth by 2022, in terms of value, registering a stunning CAGR throughout the forecast period (2016 – 2022).Augmenting demand to counter the big data challenges that are increasing with the advancements of technologies are some of the key forces acting as a tailwind to the market growth, boosting the demand for sensor data analytics.
Additional factors substantiating the market growth include cost reductions from cloud deployment models, benefits of sensor data analytics, and the increasing need to address vertical specific challenges.
